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I-3 - Taxation Act

Section 539
Disposition versions

Full text
539. The cost of the exchanged share to the particular corporation, at any particular time up to and including the time it disposes of the share, is deemed to be the lesser of the following amounts:
(a)  the fair market value of the exchanged share immediately before the exchange;
(b)  the paid-up capital of the exchanged share immediately before the exchange.
1975, c. 22, s. 122; 1989, c. 77, s. 57; 1997, c. 3, s. 71; 2004, c. 8, s. 108.
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